Markets

S&P 500: Millennials Are Trading Like Crazy — Here’s What They’re Buying | Investor’s Business Daily

Lifestyle, Markets, Uncategorized

Millennials are in the driver’s seat when it comes to trading. And they’re betting big on a handful of favorite S&P 500 stocks.

Tesla (TSLA), Apple (AAPL) and Amazon.com (AMZN) continue to be the top holdings of millennial investors and all are up in value this year, says an Investor’s Business Daily analysis of data from the just-released Apex Next Investor Outlook for the fourth quarter and S&P Global Market Intelligence.

Read the entire article: S&P 500: Millennials Are Trading Like Crazy — Here’s What They’re Buying | Investor’s Business Daily

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The Algebra of Wealth | No Mercy / No Malice

Behavioral Finance, Financial Planning, Markets

The news of the (second) impeachment seems strangely pedestrian after the blowtorch intensity of Reddit vs. The Hedge Funds.

The good news is that the hedge funds didn’t conspire with market makers and trading apps to suppress a (warranted) generational revolution.

The inevitable Netflix/Hulu/Starz versions will not be so romantic; Reddit mainly inspired a transfer of wealth from one hedge fund to others. It was a pump and dump masquerading as a movement … with many retail investors left holding the bag.

Read the entire article: The Algebra of Wealth | No Mercy / No Malice

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‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

Industry, Lifestyle, Markets, Retirement

Beats a second career of working as a Walmart greeter, right? -Jeff

TOKYO — A 37-year-old Tokyo man who says he rents himself out to other people “to do nothing” has been inundated with gratitude from Twitter users, indicating people are happy with his new form of support.

“I’m glad I was able to take a walk with someone while keeping a comfortable distance, where we didn’t have to talk but could if we wanted to,” one user wrote. Another reflected, “I had been slack about visiting the hospital, but I went because he came with me.”

Read the entire article: ‘Rent-a-person who does nothing’ in Tokyo receives endless requests, gratitude – The Mainichi

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Massachusetts Regulators File Complaint Against Robinhood – WSJ

Behavioral Finance, Markets

Massachusetts securities regulators filed a complaint Wednesday against the wildly popular trading platform operated by Robinhood Financial LLC, alleging the company aggressively marketed to inexperienced investors and failed to implement controls to protect them.

Read the entire article: Massachusetts Regulators File Complaint Against Robinhood – WSJ

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New Kim: Racing pigeon from Belgium sold for record €1.6m – BBC News

Industry, Lifestyle, Markets

A racing pigeon from Belgium has set a new record after being sold for €1.6m ($1.9m, £1.4m).

New Kim, a two-year-old female, was initially put up for auction for just €200, but was bought by a bidder from China on Sunday for the record amount.

Kurt Van de Wouwer, whose family bred and owned the pigeon, said they were “in shock” at the news, according to Reuters news agency.

Read the entire article: New Kim: Racing pigeon from Belgium sold for record €1.6m – BBC News

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U.S. single-family homebuilding, permits surge to more than 13-year high | Reuters

Lifestyle, Markets

U.S. single-family homebuilding raced to a more than 13-year high in September, cementing the housing market’s status as the star of the economic recovery amid record-low mortgage rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling.

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Thinking of Changing Your Portfolio Because of the Election? Think Again.

Financial Planning, Markets

Are you tempted to change your investment strategy because of the 2020 Presidential Election? You’re not alone. In a recent survey, 45% of investors said they plan to make changes to their investments because of the election.

If history is any guide, this may not be a wise decision. For the past 12 presidential elections, the S&P 500 Index has generally been positive 90 days before and after Election Day.

Read the entire article: Thinking of Changing Your Portfolio Because of the Election? Think Again.

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Is the U.S. Recession Over? | Iris

Industry, Markets

Last month, the Business Cycle Dating Committee of the National Bureau of Economic Research—the “scorekeepers” of economic recessions and expansions in the U.S.—marked the peak month of the previous expansion in February 2020, officially marking an end to the longest expansion on record (128 months) dating back to 1854.

Read the entire article: Is the U.S. Recession Over? | Iris

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Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders | Seeking Alpha

Markets

Robinhood is marketed as a commission-free stock trading product but makes a surprising percentage of its revenue directly from high-frequency trading firms.

It appears from recent SEC filings that high-frequency trading firms are paying Robinhood over 10 times as much as they pay to other discount brokerages for the same volume.

Robinhood needs to be more transparent about its business model.

Read the entire article: Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders | Seeking Alpha

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5 worst investment calls of this century

Behavioral Finance, Markets

There’s a reason that I think it’s foolhardy to put too much stock in the predictions of our so-called “experts” in times of duress. Their track record is often (ahem) less than stellar. -Jeff

A lot of people have given some bad advice over the years. Here are the five worst investment calls of the century, according to Howard Gold.

 

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Goldman Sachs Abandons Five of Six ‘Top Trade’ Calls for 2016 – Bloomberg Business

Markets

I’ve always been wary of group-think projections of the future. Man, did GS get this wrong. -Jeff

Goldman Sachs to clients: whoops. Just six weeks into 2016, the New York-based bank has abandoned five of six recommended top trades for the year.

The dollar versus a basket of euro and yen; yields on Italian bonds versus their German counterparts; U.S. inflation expectations: Goldman Sachs Group Inc. was wrong on all that and more.

Read the entire article: Goldman Sachs Abandons Five of Six ‘Top Trade’ Calls for 2016 – Bloomberg Business

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2015 was the hardest year to make money in 78 years

Markets

It’s been a really, really tough year for returns.

According to data from Societe Generale, the best-performing asset class of 2015 has been stocks, whose meager 2 percent total return (that is, including dividends) still surpasses those of long-term bonds, short-term Treasury bills and commodities. These minimal gains make 2015 the worst year for finding returns since 1937,

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Why Inflation Is Lower Than You Think

Financial Planning, Markets

at-painter1Financial pundits routinely claim that inflation is much higher than the reported statistics. We hear, for example, that food prices have risen much faster than the roughly 1.5% increase in the consumer price index (CPI) over the past several years. Viewed over the longer term, however, inflation is far lower than reflected in the published data.

The reason for this anomaly is that the CPI doesn’t reflect the rapid advances in technology and the new products and services that have benefited everyone.

The implications are profound. For example, real GDP growth is greater than has been reported, and some claims of income inequality are misleading.

This theme was the focus of two recent presentations I attended. On October 18, the economist Woody Brock hosted a private gathering of investment professionals from Australia and New Zealand, organized by the Portfolio Construction Forum , at his home in Gloucester, Massachusetts. On October 22, Rick […]

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Why the stock market is going nowhere fast

Markets

635755690329482444-AP-Financial-Markets-Wall-Street-001The U.S. stock market this year is stuck in a rut. It’s trendless. It can’t decide if it wants to go up or go down.

Wall Street pros are starting to take notice of the market’s inability to gain traction.

Goldman Sachs says, “Flat is the new up.” Paul Hickey of Bespoke Investment Group calls it the “Nowhere Market.” Patrick Adams of Choice Investment Management blames the malaise on a “tired bull” and says a “cautious stance is warranted.”

“This year has brought a whole lotta flat,” says Burt White, chief investment officer at LPL Financial, commenting on the stock market’s uninspiring year.

How flat? After Tuesday’s nearly 6 point drop to close around 2097, the broad Standard & Poor’s 500-stock index is up just 1.8% on the year and off 1.6%

Read the entire article: Why the stock market is going nowhere fast

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